Venezuela State Oil Co. to End SEC Filings

[AGENDA21]

CARACAS, Venezuela — Venezuela's state oil company said it has paid off $83 million in debt registered with the U.S. Securities and Exchange Commission and will stop filing public financial reports with the agency.

Petroleos de Venezuela SA, or PDVSA, said in a statement late Wednesday that as a result of the debt buyback it "no longer has any financial instrument registered" with the SEC and that its obligation to report to the agency has "expired."

The company said it will file its last report for 2004 to the SEC in May.

Venezuela is the world's fifth-largest oil exporter and a major supplier of fuel to the United States.

http://www.chron.com/disp/story.mpl/ap/fn/3790719.html

[Rex]

1. Looks like Baby Bush is running out of nipples to suck.

Good thing he has his other mommy; Bandar Bush.

But let us be honest here, who would you rather pucker up to?

Uncle Bandar?


Or Maw Tucket?


Yup, Bandar everytime.

[dipsydoodle]

2. I guess this is what's commonly referred to as

putting two fingers up to convey screw you.

[muntrv]

3. PDVSA pays off it's debts unlike the Bush Administration.

[Robbien]

4. No wonder BushCo says Chavez is a threat

Chavez will not stay crushed under the US economic thumb.

First the SEC
Next the IMF

[Telly Savalas]

7. The debt wasn't owed to the SEC, but rather private investors

They issued notes several years back (prospectus can be found here: http://www.sec.gov/Archives/edgar/data/906424/000091205701524468/a2054536zf-3.htm )

They bought them back. So in the absence of publicly traded securities in the U.S., there's no longer the need for the SEC involvement.

It's not really a big deal.

[peacetalksforall]

5. And the last diplomat (in title) to turn things around is Rice and she

won't and can't. She is a war monger - of big and little wars. She has no wins so far. She is way behind trends. Waaaayyyyy behind.

[hwmnbn]

6. Is this a little like paying off ..........

your credit card and then closing the account? Man, that has to feel good. :party:

It will be some time before the US pays off it's trillion dollar deficit. :cry: